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What the equity of Carl and Raymond as of December

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Question - Carl and Raymond are partners dividing profits and losses in the ratio of 60:40. Their original capitals on January 1, 2019 were P50,000 and P30,000, respectively. The partnership realized a net income of P38,000 in 2019 but incurred a net loss of P10,000 in 2020. There were no withdrawals. Each partner made an additional investment of P15,000 on December 1, 2020. What the equity of Carl and Raymond as of December 31, 2020?

Reference no: EM132971367

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